News
Groupama aims to improve solvency ratio with asset sale
Speculation is mounting that regulatory pressure in France has led Groupama to attempt to raise close to €1bn through the sale of its GAN Assurances unit.
Axa, MMA and Allianz linked with Groupama swoop
Axa, MMA's parent Covea and Allianz have been tipped to buy Groupama arm GAN, according to reports.
Risk Stop promotes Fraser Wilsher
Independent risk control provider Risk Stop Group has appointed Fraser Wilsher as its product manager from 1st December 2011.
Young Marmalade opposes ABI on age
Young driver insurer Young Marmalade has rejected the Association of British Insurers' call for a minimum training period of one year before a provisional driver can take a driving test. It said this “would be too much of a ‘one size fits all’ solution”.
UNIQA Austria expects full year losses of €300m
UNIQA Group Austria has revealed losses of €181m for the first nine months of 2011 due to significant significant one-off effects of write-downs of Greek government bonds and investments in the restructuring of the group.
Hiscox has 'A' issuer credit rating affirmed
Hiscox has had its ‘A’ (excellent) issuer credit rating and ‘A’ (excellent) financial strength rating affirmed, along with its core subsidiaries.
Bankrupt Sean Quinn ordered to repay £358m
Quinn Group founder Sean Quinn has been ordered to pay the former Anglo Irish Bank €417m (£358m) by the High Court in Dublin.
Thai flood supply chain losses could reach $20bn
The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.
Towergate reveals £35.4m losses
Towergate has announced Q3 pre-tax losses worsened to £14.0m from £7.7m at this time last year, with year-to-date loses hitting £35.4m from £14.1m for this time in 2010.
Bahrain Kuwait Insurance assigned 'A-' ratings
Bahrain Kuwait Insurance Company has had a financial strength rating of A- (Excellent) and issuer credit rating of “A-” assigned by AM Best.
Spanish and French SMEs rank lowest in their understanding of insurance
Spanish and French SME’s rank the lowest when it comes understanding their insurance options, according to a recent study by Hiscox.
Antares’ ceded reinsurance appoints head
Specialist Lloyd’s insurer Antares has named Richard Anson as head of ceded reinsurance.
IBRC to fight Quinn in Northern Ireland
Ireland’s Anglo Irish Bank asset recovery vehicle, the Irish Bank Resolution Corporation, is to fight Seán Quinn’s bankruptcy in the Northern Ireland High Court in Belfast today.
Premiership footballer wins spot rates case against Allianz
Allianz has lost its credit hire appeal case against Aston Villa footballer Darren Bent.
ABI guide tackles “overzealous” H&S rules
The Association of British Insurers has published a new guide to tackle the “overzealous” interpretations of health and safety rules for the voluntary sector and small businesses.
Chubb offers PI for professional service providers
Chubb has launched a professional indemnity product for professional service providers ranging from management consultants and HR experts to payroll processors and polygraph operators.
Seán Quinn ordered to repay €417m
Ireland’s commercial court has ordered Seán Quinn to repay about €417m to the Irish Bank Resolution Corporation, The Irish Times reports.
BI claims likely to contribute significantly to $20bn Thai flood losses
The majority of insurance losses from flooding in Thailand will come from the impact on manufacturing and supply chains, AM Best has confirmed.
Law report: Slip on ferry ruling overturned
This law report has been controbuted bby national law firm Berrymans Lace Mawer.
IRM recognises students
The Institute of Risk Management has named Karasachi Sylvester Nnadede and Karla Cruickshanks as its top students of the year.
Igo4 and Markerstudy to deliver direct brands
Igo4 has secured a partnership deal with Markerstudy to deliver direct brands Zenith Insurance and Zenith Insurance Plus, set to go live today (24 November).
ABI defends proposal to ban young motorists from driving at night
The Association of British Insurers has been forced to defend its proposals, which included a ban on night driving for young drivers, after they were dismissed as unenforceable by the government and safety campaigners.
Accident Exchange heads to Court of Appeal
Accident Exchange is to take its two-year legal battle with Autofocus over alleged fraudulent credit hire spot rates to the Court of Appeal next Thursday.
Catlin and China Re deal predicted to be catalyst for Lloyd’s investment
The “landmark” strategic partnership between Catlin and China Re is expected to be a catalyst for a boom in Lloyd’s investment from insurers in emerging economies.